Lawstreet Journal

SEBI Issues Procedure for Exchanges to Handle Investor Complaints Against Listed Companies

Lawstreet Journal 18 Aug 2020 12:39am

Image courtesy: Lawstreet Journal Judiciary SEBI Issues Procedure for Exchanges to Handle Investor Complaints Against Listed Companies

On Thursday (August 13,2020), the market regulator SEBI came up with the procedure for handling investors' complaints as well as a standard operating system to be taken against the listed companies to deal with such grievances. 

This procedure will come into force on September 1 and will be able to deal with the complaint which is related to the non-updating of address or signature, non-receipt of bonus, dividend, interest for delay in dividend, share certificate, and the duplicate debt securities certificate. 

The grievances pertaining to non-receipt of securities in public issues and rights issues, non-receiving securities after conversion/consolidation/splitting, receiving refund or dividend, and shares in physical mode instead of electronic mode will also be applicable. Investors are encouraged to initially take up their grievances to the listed company directly. Also, the SCORES platform can be used to address the grievances of the complainant has not submitted such grievances to the company earlier. The company first must resolve the complaint directly and in case the company does not redress it within 30 days of the complaint, then such direct complaint will be forwarded to designated stock exchange (DSE) through SCORES.

At the time of lodging complain in SCORES, the complainant has to submit the details of the previous complaint that was filed to the company directly then SCORES will transfer the complaint to DSE, and DSE will take it up with the company. The company will be required to submit the resolved complaint to the Action Taken Report (ATR) within 30 days of the… Continue Reading...

Tagged: Securities and Exchange Board of India (SEBI)   SEBI  
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